1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
alekssr [168]
3 years ago
8

(Ignore income taxes in this problem.) If you wanted to withdraw $12,000 from a bank account at the end of each of the next 20 y

ears, approximately how much would you have to invest in the account today assuming a 6% interest rate
Business
1 answer:
prisoha [69]3 years ago
4 0

Answer:

The money should be invested in bank = $137,639.05

Explanation:

Given  annually withdrawal money (annuity ) = $12000

Number of years (n ) = 20 years

Interest rate  = 6 percent.

Since a person withdraw money annually for next 20 years with 6 percent interest rate. Now we have to calculate the amount that have been invested in the account today. So below is the calculation for invested money.  

\text{Present value of annuity} = \frac{Annuity [1-(1 + r)^{-n}]}{rate} \\= \frac{12000 [1-(1 + 0.06)^{-20}]}{0.06} \\=12000 \times 11.46992122 \\=137,639.05

You might be interested in
Terrance has to make home mortgage payments.What can you Most likely conclude about Terrence based on this fact?
pantera1 [17]

Answer:

D. He has a long term liability.

Explanation:

3 0
3 years ago
Which of the following statements about the relationship between the financial market and the economy is TRUE?
Ber [7]

the economy predicts what happens to the financial market. Example the 2008 recession happened because of the economy lot of people were losing jobs and defaulted on their mortgages which caused the 2007 real estate crash.

3 0
3 years ago
Watauga Company purchased equipment on July 1, 2017 for $70,000. Sales tax on the purchase was $700. Other costs incurred were f
andriy [413]

Answer:

$72,700

Explanation:

Data provided in the question:

Purchasing cost = $70,000

Sales tax = $700

Freight charges = $800

Shipping charges = $150

Repair charges = $1,300

Installation cost = $1,050

Now,

Cost of the equipment  

= Purchasing cost + Sales tax + Freight charges + Shipping charges + Installation cost

= $70,000 + $700 + $800 + $150 + $1,050

= $72,700

Note: Repair cost is not included in the cost.

5 0
3 years ago
Which of the following items is included in Japan’s GDP? A. the estimated value of production accomplished at home, such as ba
noname [10]

Answer:

D) None of the above is included in Japanese GDP.

Explanation:

A country's GDP includes the value of all the finished and legal goods and services produced in an economy during one year.

GDP = consumption + investment + government spending + net exports

  • Vegetables and fruits grown and consumed by an individual are not included in the GDP, unless they sell them to someone else.
  • Illegal goods ans services are not included in the GDP.
  • Imports, foreign products sold in a domestic market, lower the GDP since they lower net exports.
8 0
3 years ago
Fairview Community College is a multi-district college with four campuses. Each campus has one president, two vice presidents, f
EastWind [94]

Answer:

The correct answer is b. chain of command

Explanation:

A chain of command is a system of sending information characteristic of organizations with strong, vertical and authoritarian hierarchical structures, such as political-party and military organizations, where orders, rewards and penalties flow from the tip of the pyramid organizational to the base, and where it is expected that only the required information, entrusted activities and tasks flow to the top of it.

7 0
3 years ago
Other questions:
  • John Paul will receive a gift of $9,000 when he gets his promotion, which he expects to be in 6 years. If he can save his money
    13·1 answer
  • Inflation sometimes causes people to pay _____ capital gains tax than they ought to
    15·2 answers
  • If any email asks you to click on a link to "confirm" or give your personal information, what should you do?
    15·1 answer
  • In a resource-constrained project, the first priority in assigning resources is usually given to activities with the
    15·1 answer
  • Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:
    12·1 answer
  • A firm manages its inventory with an order-up-to level (i.e., a base stock level). The review period is one day (so the manager
    15·1 answer
  • ABC has beginning inventory for the year of $12,000. During the year, ABC purchases inventory for $150,000 and ends the year wit
    14·1 answer
  • Which of the following statements about cash equivalents is FALSE?
    6·1 answer
  • following the rational rule for sellers, how does output for a seller who has market power compare to output for a seller who do
    5·1 answer
  • Suppose 10 new hair salons open in this city. Would this have an effect on the supply and / or demand curves? Explain
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!